The Federal Trade Commission is seeking public comment on its Hobby Protection Rules as part of its systematic review of all FTC rules and guides. Issued in 1975, as required by Congress, the “Rules and Regulations Under the Hobby Protection Act” regulate the marking of imitation coins and political items sold to hobbyists. The FTC […]
Monthly Archives: July 2014
FTC Approves Amendments to Used Auto Parts Guides
The Federal Trade Commission has amended its Used Auto Parts Guides, which are designed to prevent the unfair or deceptive marketing of used motor vehicle parts and assemblies containing used parts, such as engines and transmissions. The Guides refer to such parts and assemblies as “industry products.” The “Guides for the Rebuilt, Reconditioned and Other […]
FTC Adds Mobile Cramming to Charges Against Text Spam and Robocall Network
The Federal Trade Commission added new charges of mobile cramming to a complaint the agency previously filed against a group of scammers who allegedly sent millions of unwanted text messages and robocalls to consumers. The amended complaint adds the mobile cramming charges to the Commission’s original complaint allegations that the operation used text messages promising […]
Federal Trade Commission Renews Partnership with Saskatchewan Law Enforcement Agencies to Fight Cross-Border Fraud
The Federal Trade Commission has renewed its partnership with law enforcement agencies in Saskatchewan, Canada, through December 31, 2018, to combat fraudulent cross-border marketing practices. The FTC entered into an agreement with Canadian counterparts in 1995 to fight deceptive marketing and fraud, and over the years has received and provided significant investigational assistance, including information […]
FTC Requests Public Comments on SCI’s Application to Approve Sale of Tennessee Cemetery and Funeral Assets to Heritage Family Funeral Services, Inc., and Heritage Family Cemetery, Inc.
The Federal Trade Commission is currently accepting public comments on an application by Service Corporation International (SCI) to sell certain funeral and cemetery assets, as required under the FTC’s April 2014 order settling charges that SCI’s acquisition of Stewart Enterprises, Inc. would likely be anticompetitive. In total, the order requires the combined SCI/Stewart to divest […]
FTC Puts Conditions on Valeant Pharmaceuticals’ Proposed Acquisition of Precision Dermatology
Valeant Pharmaceuticals International, Inc. and Precision Dermatology, Inc. have agreed to sell or relinquish rights to Precision’s branded single-agent topical tretinoins and generic Retin-A, common acne treatments, to settle Federal Trade Commission charges that Valeant’s proposed $475 million acquisition of Precision would likely be anticompetitive. This action is part of the FTC’s ongoing effort to […]
FTC Warns Consumers About Pension Advance Plans
If you’re trying to make ends meet, here’s a pitch that might catch your interest: “Convert tomorrow’s pension checks into hard cash today.” Sound tempting? Think again. The Federal Trade Commission, the nation’s consumer protection agency, advises consumers that pension advances, also known as pension sales, loans, or buyouts, come at a very steep price. […]
At the FTC’s Request, Court Halts Collection of Allegedly Fake Payday Debts
At the request of the Federal Trade Commission, a U.S. district court has halted a Georgia-based operation from using deception and threats to collect $3.5 million in phantom payday loan “debts” that consumers didn’t owe pending trial. The court had previously ordered the defendants’ assets frozen to preserve the possibility that they could be used […]
FTC Alleges T-Mobile Crammed Bogus Charges onto Customers’ Phone Bills
Note: A conference call for media with FTC Consumer Protection Director Jessica Rich will occur as follows: Date: July 1, 2014Time: 2:45 p.m. ET Call-in lines, which are for media only, will open 15 minutes prior to the start of the call. Jessica Rich and FTC staff will be available to take questions from the […]
Interagency Guidance on Home Equity Lines of Credit (HELOCs) Nearing Their End-of-Draw Period
FIL-33-2014 July 1, 2014 Interagency Guidance on Home Equity Lines of Credit (HELOCs) Nearing Their End-of-Draw Period Printable Format: FIL-33-2014 – PDF (PDF Help) Summary: The Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of-Draw Period (HELOC guidance) recognizes that some institutions and borrowers may face challenges as HELOCs near their end-of-draw period. […]